W5 Money

[SuchANerd]

the problem is you're both arguing the same thing
Magic: the price is set by the traders.
Sab: but some traders set certain prices!
Magic: but noone can set the price for someone elses trade!
Sab: but if someone sees a different price, they'll stick with the better price!
me: kind of like the price being set by the traders....
DatOneGuy: Listen up motherfucker, it's motherfucking science.
Magic: lol

Fixed it for you.

[Butko]

I think that pretty much sums up their argument.

In order for any standardized currency to work, the main traders of the world have to come together and agree on one. It won't stop bartering, you can still trade X for Y, it will just introduce a Z into the formula. For example, trader A is selling X, but not buying Y. Trader B is buying Y, but not selling X. Now how do you get your X if all you have is Y? By introducing Z into the formula, you can go to trader B and sell your Y for Z, and then go to trader A to buy his X for Z. Of course, this will only work if Traders A and B have agreed that Z is worth the same thing to them.

Then should biggest powers in w5 make a thread where is discussed price and how much are items worth. Not only that only one says that is it, but one says and others should agree on that...
Like world economy council...

[DatOneGuy]

I think that pretty much sums up their argument.

In order for any standardized currency to work, the main traders of the world have to come together and agree on one. It won't stop bartering, you can still trade X for Y, it will just introduce a Z into the formula. For example, trader A is selling X, but not buying Y. Trader B is buying Y, but not selling X. Now how do you get your X if all you have is Y? By introducing Z into the formula, you can go to trader B and sell your Y for Z, and then go to trader A to buy his X for Z. Of course, this will only work if Traders A and B have agreed that Z is worth the same thing to them.

Then should biggest powers in w5 make a thread where is discussed price and how much are items worth. Not only that only one says that is it, but one says and others should agree on that...
Like world economy council...

Yes, it definitely sounds like a good idea.

If no one else starts it I'll try and start one Friday or something.

[spectacle]

commodity markets track prices. you were saying that there wasn't a base price for a bushel of wheat. i'm saying that there is, depending on location and when you want it (trading futures etc.). obviously the real world is far more complex and prices fluctuate based on various factors but at some point, some dudes in chicago sat down a the the table and said "wheat is $4 a bushel" or whatever.

That's not how it works. Commodity markets are essentially auctions, the price tracked by the exchange is merely the aggregate of the final prices of all the trades that day. In a liquid market with good information among the trading parties the price for a commodity will be predictable enough that it can seem like a "base price", but it isn't.

[sabinati]

man, what did you think i meant by base price, some magic arbitrary number?

[rozn]

I think that pretty much sums up their argument.

In order for any standardized currency to work, the main traders of the world have to come together and agree on one. It won't stop bartering, you can still trade X for Y, it will just introduce a Z into the formula. For example, trader A is selling X, but not buying Y. Trader B is buying Y, but not selling X. Now how do you get your X if all you have is Y? By introducing Z into the formula, you can go to trader B and sell your Y for Z, and then go to trader A to buy his X for Z. Of course, this will only work if Traders A and B have agreed that Z is worth the same thing to them.

Then should biggest powers in w5 make a thread where is discussed price and how much are items worth. Not only that only one says that is it, but one says and others should agree on that...
Like world economy council...

Yes, it definitely sounds like a good idea.

If no one else starts it I'll try and start one Friday or something.

Then who would you choose as world powers? Would you include even your enemies? Personal issues might get in the way.

[DatOneGuy]

Anyone is free to jump in as long as they act civilized and can actually back what they say.

Of course I'd probably take more stock in people who I know are masters of trade and have been for a long time. Off the top of my head, diablo, sabi, potjeh (and other BNers who ran Samarkand), people who I've seen around with big trade threads in general.

In any case, you can feel free to jump in it's not exactly exclusive to world powers, if it was we'd have a PM chain instead of a thread.

[Jotun]

>implying H&H is a filthy MMO clone controlled by a currency and koreans farm it day and night, controlling the game itself and making money off of it in real life
Adding in a currency would just ruin the game, in my opinion. It's pretty awesome the way it is, complete anarchy.

[Potjeh]

Let's just call it average prices of this group and people can take them as they will. We need a catchy name for this group, though, how does Bilderberg sound to you guys?

[sabinati]

can we call it jorb anal friends